monetary policy statement, 2020-21, RBI resolution of the Monetary Policy
Committee (MPC) said on the basis of an assessment of the current and evolving
macroeconomic situation, the MPC at its meeting decided to:
the policy repo rate under the liquidity adjustment facility (LAF) by 40 bps to
4.0 per cent from 4.40 per cent with immediate effect.
the marginal standing facility (MSF) rate and the Bank Rate stand reduced to
4.25 per cent from 4.65 per cent; and the reverse repo rate under the LAF
stands reduced to 3.35 per cent from 3.75 per cent. 3: The MPC also decided to
continue with the accommodative stance as long as it is necessary to revive
growth and mitigate the impact of COVID-19 on the economy, while ensuring that
inflation remains within the target.
offered an option to its long-term customers to buy rough diamonds through its
digital platform amidst limited business travel due to Covid-2019 pandemic
related restrictions. At the digital tender taking place between May 15 and 29,
2020, the company offers over 800 rough diamonds from 5-10 carats batches.
offered volume is the largest Alrosa has ever put on a digital tender. The
company provides detailed information on each diamond for remote evaluation.
Clients logged to their personal online account get full digital scans of
auctioned stones, including data on their external shape, inclusions, color,
fluorescence, as well as photos.
Pastorini, Co-owner Del Lima Jewelry brand and President of Mubri - Mujeres
Brillantes International Association expressed amid lockdown. Being a Market
Consultant with expertise in Latin America region she said about resumption and
change in business landscape.
the context of doing business & resumption in post Covid-19, Ali said, I
have no doubt, things are already changing. It is no longer a discussion about
whether it will change, but how we will adapt to this new reality. I,
personally, with my jewelry brand have already changed some attitudes and
behavior to adapt this new reality in the most effective way, both from the B2B
and B2C point of view.
Jewellers Facing Elongated
Capital Cycle amid Lockdown!
is the second and last wire under the series of India Ratings and Research’s
(Ind-Ra) assessment of the impact of Covid-19 pandemic on the retail jewellery
sector. The wire focuses on the impact on profitability, liquidity and credit
profile of sector companies.
non-exhaustive study of a few Ind-Ra-rated retail jewellery players in ‘IND A-’
and ‘IND AA-’ rating categories reveals that they either have sufficient
liquidity available or are backed by strong bank funding or outstanding free
cash, which will enable them to manage liquidity in the short term.
fancy color diamond trade!
to the Covid-19 pandemic, for the first time since its inception in 2015, the
Fancy Color Research Foundation (FCRF) will not publish the Fancy Color Diamond
Index (FCDI) for Q1 2020.
FCRF had concluded the quarterly data collection process from its data
suppliers and learned that the volume of transactions conducted in this quarter
was not sufficient to establish accurate market pricing data for the majority
of fancy color diamond categories.
for ‘Platinum Beyond the Bench’ is provided
the World Platinum Investment Council (WPIC)
in 1997, American Eagles are the US’s official platinum bullion coins and the
only platinum bullion coins of which the weight, content and 99.95 per cent
purity are guaranteed by the US government. All American Eagle platinum coins
are legal tender – and the 1 oz coin, which since 2014 is the only size issued,
has a $100 face value although, in practice, the coins are not used in
Minister for MSMEs and Road Transport & Highways Nitin Gadkari has called
upon the MSME sector to consider technology upgradation and to look for foreign
investment to forge ahead in the post-Covid scenario. He said, the relief
package announced by the Prime Minister for MSME sector should be utilised by
the medium and small scale industry to jump back into action.
the members of Confederation of Faridabad Industries Association and Materials
Recycling Association of India in two separate video conferences from Nagpur,
the Minister said, this package will energize the local indigenous industry
with new life.
Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman has stressed
that the Government trusts industry fully and comprehensively. She urged
industry to plan for engaging labour with a more professional approach and
engage in skilling. “Mind sets in industry need to set examples in handling
workers in a way that is acceptable to all,” stated the Finance Minister.
Finance Minister was speaking at an interaction through video conferencing with
Confederation of Indian Industry (CII) which is marking 125 years of its
existence in 2020. Felicitating CII on this milestone, Smt Sitharaman said that
CII has played a critical role in the country and its members have played
strong roles in their own sectors. She exhorted CII to stand out as an exemplar
in the policymaking process.
Gold announces the Company’s 100%-owned Mercedes Mine, located in the State of
Sonora, Mexico, will begin a safe, phased restart of operations beginning June
1, 2020. This restart is following the Mexican Health Ministry’s decree on May
13, 2020 that amends the March 30, 2020 decree to include mining as an
essential service effective June 1, 2020.
Mercedes mine was placed on care and maintenance on April 1, 2020 in response
to the Mexican federal government’s mandate that all non-essential businesses
temporarily suspend operations. The management team has been developing a
restart plan that will provide for a safe mine site environment that delivers
cash flow from operations while working under the mandated sanitation measures
required by government.
the juncture Lundin Gold first quarter ended March 31, 2020 Ron Hochstein,
Lundin Gold President and CEO said, “We are working towards the restart of
operations and we believe our financial position is sufficient to support the
Company until production resumes at Fruta de Norte. We have a dedicated team of employees at site
carrying out activities to mitigate the impact of the suspension on our
operations and we have reduced costs in other areas.
Company is contributing to the fight against the pandemic and has partnered
with the provincial and local health authorities to provide aid to the local
communities in response to Covid-19.”
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